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Sep 30, 2022
Premier Financial Q3 2022 Earnings Report
Announced third quarter results with strong loan and deposit growth.
Key Takeaways
Premier Financial Corp. reported a net income of $28.2 million, or $0.79 per diluted common share, for the third quarter of 2022. The company experienced strong loan and deposit growth, with loan growth of $300.9 million and customer deposits growth of $146.3 million.
Loan growth of $300.9 million (up 19.9% annualized) including $151.0 million for commercial loans excluding PPP (up 15.2% annualized) and $114.2 million for residential loans including held for sale (up 28.3% annualized).
Customer deposits growth of $146.3 million (up 9.0% annualized) including $40.0 million of non-interest-bearing (up 9.0% annualized).
Net interest income (tax equivalent) of $63.5 million or $62.9 million excluding PPP and acquisition marks accretion, up 7.1% and 7.6%, respectively, from 2022 second quarter.
Asset quality improved with non-performing loans down 4.6% and classified loans down 7.8% from 2022 second quarter.
Forward Guidance
Premier is determined to create a deposit rate offering that will both reward existing clients for their business and continue to attract new business.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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